Switzerland’s unemployment rate rises to 2.4% in August

Switzerland’s jobless rate has risen to 2.4% in August from 2.3% in the prior four months, data by the State Secretariat for Economic Affairs showed.

The number of unemployed individuals rose by 3,638 to six-month high of 111,354 in August.

Switzerland’s youth unemployment rate, which tracks job-seekers aged between 15 and 24, rose to 2.7% in August from 2.2% in July.

The number of young unemployed persons went up by 2,004 to 11,905, the data showed.

The Swiss unemployment rate, adjusted for seasonal factors, was reported at 2.5% in August, or unchanged from July.

The Swiss Franc was little changed on the day against the Euro, with the EUR/CHF currency pair last trading at 0.9390.